By now you’ve almost certainly heard the news that Meta has settled with 52 state and local Attorneys General who had sued the company in some form or another over child safety on Meta’…
  • General_Effort@lemmy.worldOPEnglish
    22·
    3 months ago

    It’s also only $5B unless…

    Yeah, the headline is bad. But the story contains fairly good information and analysis.

    • ryper@lemmy.caEnglish
      12·
      3 months ago

      The $5B is the conditional bit:

      The agreement includes a payment of approximately $18 billion, which can be used to fund youth online safety initiatives, among other state priorities. The payment will be distributed in annual installments over a 10-year period. Participating states will receive approximately 70% (approximately $12.7 billion) of the allocated payment over the decade. The remaining 30% (approximately $5.3 billion) will be released only after two specific conditions are met.

      1. YouTube and TikTok implement a one-hour Daily Limit, Night Mode, and age assurance measures.
      2. YouTube and TikTok each pay an amount matching the 30% figure, with half of the remaining funds tied to YouTube’s payment and half tied to TikTok’s.